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20121127
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Search Results 0 to 49 of about 66 (some duplicates have been removed)
FOX Business
Nov 26, 2012 9:00pm EST
, what he said is if we gover the fiscal cliff, the economy will drop into a recession and the fed does not have the ability to stop that. now the question is, what if we do not hold the fiscal cliff but some of the other things that are being talked about, like the president's plan, what would happen then? the president's plan to raise taxes on high income individuals, cutting deductions for high income individuals, raising the corporate tax ate read a long list of that sort. eliminating the payroll tax holiday. that would take about 2% out of the gdnext year. we are struggling to reach 2%. as wwould basically be on the edge of an economic downturn we are sure to go into a recession if we go over the cliff and don't turn it around quickly. but even if we don't, if we have something like the obama plan, we could easily slide into recession. it is not nearly as much is going over the fiscal cliff, but it basically would offset the very weak growth, less than 2% growth that we are having right now. >> you agree with the estimate of gdp growth for 2013? again, ben bernanke, they are very o
MSNBC
Nov 27, 2012 8:00am PST
of taking the economy off the fiscal cliff is harry reid, president obama, he says he wants to compromise. he says there's only two options here, take the economy off the fiscal cliff or do it my way. that doesn't sound like something he's willing to negotiate in good faith. so, listen, republicans want to restore confidence and certainty to this economy. i don't think want to play brinkmanship, the way to do this is through pro-growth tax reform. i'll quote the numbers again. you'll get ten times the amount of revenue by growing the economy, $750 billion versus the measly $68 billion that the president's proposing by punishing success. i think that would work far better. >> and you're saying revenue because by taxing the wealthiest americans, it cuts off what has been referred to as job creators from actually getting americans to work so we have more americans working that are then paying into the tax system. >> thomas, i'm one of those job creators, those small business people. i could have explained to him what's on the minds of job creators, the people that make those investment decis
FOX News
Nov 26, 2012 6:00pm PST
the dangers of going over the fiscal cliff and what that means for our economy, that there's too much stubbornness in congress, that we can't even agree on giving middle-class families a tax cut, then middle-class families are all going to end up having a big tax hike. that's going to be a pretty rude shock for them, and i suspect will have a big impact on the holiday shopping season, which in turn will have an impact on business planning and hiring, and we can go back into a recession. >> sean: republicans hate big beared and santa claus. don't buy this hype, such as letting the bush cuts expire, are not the answer to tackling this deficit. in fact, during the 2012 fiscal year the federal government cost $9.7 billion to run each and every day, but the additional revenue from letting the bush tax cuts expire only amounts to around $82 billion a year, meaning the government would be funded for a whopping 8.5 days if in fact the president wins this fight. sadly the real reason we've reached this point is because our elected representatives simply have no idea how to stop spending your m
CNBC
Nov 27, 2012 12:00pm EST
with small business leaders to talk about the fiscal cliff and economy. we'll go to the home state of one of the main congressional leaders involved in the talks. general motors doubles down on electric. is this a losing bet for the company? up to $500 million is all up for grabs in tomorrow's powerball lottery. we have some sound advice, investment advice for the lucky winner. hopefully it will be scott or one of the "fast money" guys. back to you guys. >> thank you so much. green mountain reports earnings after the close tonight. the sthook on a run lately, but is one of the most debated on the street. herb greenberg is here with what you should expect later this evening. i know you watch this as close as anybody does. it's a stock that's done quite well of late. new ceo being named. maybe he's going to be on the call or not because it's not technically the ceo. >> i don't think the company can aafford a bad quarter. >> can it ever? >> in this case really. last quarter the stock spiked after the company announced earnings and talked about how well they're going to do with their forecast
NBC
Nov 27, 2012 4:00am PST
of the economy, the fiscal cliff, and taxing the rich. >>> and actress scarlett johansson talks about the oscar buzz surrounding her new role in "hitchcock." >>> and now keep it on this channel for continuing local news, weather, sports, and more. i'm lynn berry. thanks for watching "early today," just your first stop of the day, today on your nbc station. have a good one.
CNBC
Nov 26, 2012 7:00pm EST
're going to do more on the fiscal cliff wisdom nating markets and the economy. this time we have a former treasury undersecretary who actually managed the nation's debt for a bunch of years and ran the trading desks at the federal reserve bank of new york. joining me is peter fisher, senior directing manager and head of blackare being's fixed income group. welcome back, peter. i read your notes, and you seemed very pegs mystic, i think, maybe about getting off the fiscal cliff but certainly the market impact of the cliff. why are you so worried? >> well, we face much too high a risk if they kick the can down the road again, 60 days, 90 days, six months, actually don't solve anything. if they do that and just leave us with another cliff a few months later, if they leave us with that, business fixed investment is going nowhere. business confidence is going nowhere. >> already falling. business investment is actually falling. >> yes, but if we give them -- if we make the business community think we're facing another three or six monies of this fiscal cliff stuff it will completely evaporate
PBS
Nov 26, 2012 4:30pm PST
the fiscal cliff could cost the economy, the equivalent of four times what shoppers spent over black friday weekend. >> tom: i'm tom hudson. it's cyber monday, and shoppers are online, and spending; they'll shell out an estimated $1.5 billion online today. >> susie: and change comes to the nation's top securities regulator: mary schapiro is stepping down. we look at what's next for the securities and exchange commission, and its new leader. >> tom: that and more tonight on "n.b.r."! >> susie: americans were back at work today after a long holiday weekend, but returned to the same worries about the fiscal cliff. and a new report from the white house added to the worries, showing that unless there's a deal on solving the crisis, the u.s. economy would suffer big time. the obama administration's economists estimate consumers would spend about $200 billion less next year than they would have otherwise. congress and the administration have only a few more weeks to nail down a deal. but that deal will have to address some tough issues, including entitlement reform. darren gersh explains. >> repor
CBS
Nov 27, 2012 7:00am PST
. the only thing in between a great successful economy is this fiscal cliff which could be a rather large destabilizer of the potential economy for the next two years. >> if they can't do something about that the economy goes into recession. >> if we follow the cliff, we'll go into the cliff. right now you're seeing behavior changing by the ceos. they're hiring back holding, hiring back spending at the moment. you're not witnessing that yet certainly with christmas sales in individuals. if we fall over the cliff, you'll see payroll tax increases and extension of employment benefits go away. that alone would probably lower the economy by 2%. >> ceos meeting with the president, what are they saying to him? what should he do about entitlements as well as about new revenue? >> every ceo is having a different view on that. i come with a view that it has to be a balanced approach a combination of tax changes, tax increases and also changes in how we use deductions and other things like that. we're going to have to finally address the whole issue of longevity. we're goin
CNBC
Nov 26, 2012 11:00pm EST
, why? more worries about this darn fiscal cliff. that could send the economy into recession if washington doesn't make a deal to soften the draconian spending cuts. and the tax increases by the end of the year. i say could, meaning i believe it will. we need to take a cautious approach when it comes to retail because of the cliff. a lot of retailers are running right now. but we want to own something that won't be hurt too badly if we do go over the cliff. a stock that's pulled back dramatically of late. i'm talking about ross stores. r-o-s-t. the company behind two off-price retail concepts we can't get enough of here on "mad money." ross is an off price play like tjx, another strong, strong player, where people go to get terrific deals on merchandise that's been marked down dramatically. the company's pretty much immunized against a fiscal cliff. well, at least one that induces a recession. consider t hat since 2005, ross stores has had only a single quarter of negative same-store sales growth during the great recession in 2009. just one quarter. that's an incredibly consi
PBS
Nov 26, 2012 6:00pm PST
everyone. i'm susie gharib. new estimates show going over the fiscal cliff could cost the economy, the equivalent of four times what shoppers spent over black friday weekend. >> tom: i'm tom hudson. it's cyber monday, and shoppers
PBS
Nov 27, 2012 12:00am PST
? >> i'd like to say starting january 1. >> rose: what happens if the fiscal cliff comes and happens? what will it do to our economy? >> i don't think it will do that much because i think people will assume that a solution will be found quite promptly. it's a little like the debt ceiling question. i mean, people know -- the rest of the world may think that we're idiotic at times but they don't think we're going to commit suicide. and so i think if -- i hope something gets worked out before january 1, but if it goes a little beyond that i do not think -- >> rose: so january 10 or -- >> if you guaranteed me that the fiscal cliff we would go past that, i wouldn't sell a share of stock today. >> rose: you have that confidence that in the end they will fix it? >> yeah, and this that think economy works. >> rose: is it getting better? >> it's getting better. it's been getting better since really the summer of 2009. we've had four years straight now where the stock market's given a profit of return. the economy is getting better. we had a tremendous bubble and when it burst it was -- it had
CNBC
Nov 27, 2012 2:00pm EST
? >> put numbers on the fiscal cliff. we have an economy growing between 1 and 2% a year f we go over the cliff, take three 3 to 4% out of the economy. >> resession. >> put us in recession. why think they are going to sit there and let that happen any real period of time. a question whether they solve the problem in december before they go over could it in january or february, effective january 1. >> not to be glass half empty, you heard the harry reid comment. let's not forget, a lot of these men and women in congress are the same ones there putting blame on both parties to get us to here in the first place why should we be could confident the same people that got us here will get us out of it? >> politicians by nature don't take action until they are backed in a corner with the gun to their head. right knew in the correspondent the gun's loaded. >> recessionary gun. >> resessionnary gun. we as the american public are fools if we would elect, re-elect anybody that sat there and watched this thing go over the cliff. the bigger issue, we are in a slow growth/no growth economy, even aft
NBC
Nov 26, 2012 5:30pm PST
calling the fiscal cliff. and yet the consumers we have been talking about are not acting very worried. trying to capitalize on the strong holiday shopping season, the president warned that the economy will spiral downward if it is not addressed. >> i think it is a reason that retailers are so concerned. that congress has not yet extended the middle class tax cuts. >> reporter: the report also estimates that consumer spending could drop by $200 billion by 2013. 31st, there will be a massive fiscal cliff, of large spending cuts and tax increases. >> reporter: the federal reserve chairman coined that term last spring, restoration of 2% in payroll taxes, expiration of unemployment benefits and $110 billion in automatic cuts, to programs like defense. the political sticking points? tax rates, most democrats want tax rates for those making $250,000 a year to go up. republicans want it to stay the same, but would limit the deductions and close loopholes. there is a disagreement on who should be considered wealthy warren buffet argues that the timeline for the rich should be raised from $250
KCSMMHZ
Nov 27, 2012 2:30pm PST
at the fiscal cliff. the dramatic fiscal tightening triggered by this press this could tip the u.s. and possibly the whole global economy into recession. here is more. >> precision craftsmanship, made in the usa the marlon still company in baltimore produces wire baskets for the automobile, defense, and medical industries. it is one of the fastest-growing companies in the u.s. the company president wants to keep it that way, but at the moment, he is holding off on further investments. >> this robot is a good quality robot. phowever, we want to buy the brand-new version that is made in germany. we are pausing right now because of the fiscal cliff. there is so much uncertainty about what will happen in the future. we are not pulling the trigger to by the german robot. >> the prospect of falling off the fiscal cliff frightens more than just greenblatt. numerous business owners across the country are withholding investments in choosing not to hire new workers. that is because numerous tax advantages expire at the end of the year, and at the same time, the federal government looks set to drastically
FOX News
Nov 26, 2012 11:00pm PST
saying this fiscal cliff is bad for the economy. let's work together now. president obama says no than thanks. this killed me. nothing changed since december of 2010. president obama talked about losing in the midterms and said the worst thing we can do is high inemployment and slow economic growth is raise taxes on anybody so support me in extension of the bush tax cu cuts. nothing has changed about the economy now but the economic growth projections are worse. this is not a great way to make good policy. >> kimberly: that is their campaign slogan. they don't make concessions. they have to do something serious about cutting back on spending. coming back in with the entitlement. without that, it won't make a difference if they raise taxe taxes. taking out the bush tax cuts won'tbe make it go away. >> eric: the food stamp recipients. the latest number. $47 million. more than alabama, connecticut, delaware. minnesota, nebraska. nevada. new hampshire. new mexico. north dakota, oklahoma, oregon, rhode island, south dakota, utah, vermont, west virginia and wyoming combined. populations of t
KICU
Nov 26, 2012 7:00pm PST
, to look over the so-called fiscal cliff. some existing tax cuts will expire. that could slow the economy or even move it back into recession. up until now, republicans have been unwilling to consider raising taxes, something that democrats say has to change. >> as president eisenhower says, there will have to be compromises and seeking the middle of this rote isn't just acceptable, it's the only way forward. >> most republicans signed a pledge to never raise taxes, but gop law makers say that now they'll have to put that pledge aside for the good of the nation. >>> on wall street, the markets.finished mixed, nasdaq gained nine, apple leading the way up 8%. >>> shareholders. some analysts had suggested that investigators are underestimate's facebook's growth potential from ad revenue. the stock gained 8% today but is still well below its public offering price. six months ago, the company went public with an ipo price of $38 a share. >>> securities and exchange commission. walters who's a democrat serves as a democrat, she takes over for mary shapiro, shapiro leaves next month in the wake
FOX News
Nov 26, 2012 4:00pm PST
-called fiscal cliff could hurt the economy even if we don't plunge over it. that's the warning from the white house. it says americans may not spend as much during the holidays this holiday season because they're worried about taxes going up in january. if we actually do go over the cliff, the white house says the average middle class family would pay an extra $2,000 or so in taxes next year. officials predict americans will cut back on spending even more and slow down the economic recovery. it's the top story at the bottom of the hour. ed henry is on it. lawmakers getting back to work this week. so where do they stand? >> shep, it's interesting because they can't even agree on whether or not they are at loggerheads. if you listen to white house spokesman jay carney he says things are moving along. they are very hopeful there is going to be a compromise. you speak to mitch mcconnell he says they are hopelessly deadlocked right now and a lack of presidential leadership is making it harder. take a listen. >> we have been very clear about both the president's interest in and willingness to compr
FOX News
Nov 26, 2012 7:00pm PST
with half of the equation of the fiscal cliff, but i don't agree if taxes going up is bad for the economy why would we only want half of the taxes to go up? >> greta: that's like the reverse of the democrats. i think senator harry reid thinks it's a good thing that taxes go up, thinks it's a bad thing that spending -- it's a reverse. >> that's why we're at an impasse. we have different philosophies of government. you shouldn't spend more than comes in, and under lower taxes, not raise the taxes. if you want to stimulate the economy, i want to lower taxes, because that's how we get actually more economic growth and maybe more revenue, if you cut tax rates. >> greta: only a month past the election, but we're sort of curious. are you considering or would you think of running for president? >> it's too early to tell. we've got a lot of things we have to do in the next couple of years. i still want to try to fix some of the programs we have. i'd like to save social security by reforming it. same with medicare. i have bills that do both. i think we as republicans have to start talking bases a p
CNBC
Nov 27, 2012 4:00am EST
are we saying with the fiscal cliff? we're saying the economy might be revealed to be what it's actually doing because we'll take away the artificial supports because we think it's held any enough now to maybe after itself. that might entail a step drop because at the moment we're giving these tax breaks, but we're doing it out of our saving. >> but the point isn't just that we have to restore a higher level perhaps of taxes and lower level of spending than we might like. the problem with the u.s. is it gets into that ideological dispute over whether the way to do that should be by cutting spending and raising taxes. so there is an actual sort of fundamental disagreement that underpins this sense of knee jerk -- >> why have we had to do this? we've had to borrow money and cut people 00 taxes and spend more on social services because the underlying private sector economy completely ran out of steam. it ran out of steam because it needs the banking system to feed off. it needs access to trade credit, to business finance, et cetera. and so when the banking system suddenly said we've got ano
FOX News
Nov 27, 2012 2:00pm PST
the economy going over the fiscal cliff. no mystery what the issues areu. the democrats know, republicans know and so does president obama. entitlements are pushing the country toward financial ruin. here is what the president said in 2010. >> the major driver of the long-term liabilities is medicare, medicaid and healthcare spending. nothing comes close. social security we could probably fix the same way tip o'neil and ronald reagan sat down together and we could figure something out. that is manageable. medicare and medicaid, massive problems down the road. that's where, that is what our children have to worry about. >> dana: here we are, two years later and still no plan. on the left in congress refusing to deal with that simple reality. vermont senator bernie sanders caucuses with the democrats. take a listen. >> i get nervous when i hear the president and others continue to talk about quote/unquote, entitlement reform. which is just another cut for medicaid and medicare and social security. >> eric: brian, start with you, today. >> dana: you look surprised. >> brian: i am. yet honored. >>
FOX News
Nov 27, 2012 3:00pm PST
on in europe right now is the main issue in the global economy. even overshadowing the fiscal cliff. the markets today did not get a huge boost from the greek deal because they expected that it would happen. but they would have take an real hit had it not. bret? >> bret: amy kellogg in london. thank you. black friday shoppers got plenty of bang for the buck. that is later in the grapevine. up next, republicans try to zero in on hispanic voters. why is it that the most impressive technology often comes with a set of equally impressive instructions ? shouldn't something that's truly advanced, not need much explanation at all ? with the nokia lumia 822 on verizon, there's not much to learn because it's powered by windows... to let you do more than you ever imagined on your smartphone. exclusively with data sense-- a feature that makes the most of your plan. only on verizon. >> bret: republicans are already looking ahead to the next election. in 2014. they are trying to do something about the low numbers with hispanics. correspondent doug mckelway on the first steps this week. >> clearl
CSPAN
Nov 27, 2012 7:00am EST
are saying go over the fiscal cliff? caller: yes. it is not even enough in my opinion to balance the budget. it is still about three times the average deficit under bush. let us go back to the clinton tax era. eileen anywhere between republican and libertarian. up -- yes i am not. i lean anywhere between republican and a libertarian. host: what do you make of republicans up on capitol hill -- to sort of a back off the tax pledge that he took when he ran for senate, saying he would not raise taxes. caller: if we are going to raise taxes my important thing is raising them on everybody. because if they try to strike a compromise where only the rich get taxed, then it gets more progressive. it is not a point to help the budget. we are right to raise taxes, raise them all the way down to where clinton had them. host: senators lindsey gramm represented peter king, talking publicly abandoning the pledge of democrats will talk seriously about entitlement reforms. rest in peace, grover norquist? there are not enough republican tax hikes -- republicans to hike taxes for obama. the left is doing its b
FOX Business
Nov 27, 2012 1:00pm EST
for the dollar. we go over the fiscal cliff, bad news. ashley: yeah. >> world's biggest economy headed for another recession. i think dollar benefits as a safe haven currency. we avoid going over the fiscal cliff or go over the fiscal cliff for short period of time people focus on the u.s. for a bit because europe is in recession. win-win situation for the dollar but we have to get through the correction first. ashley: big correction to get through. thank you. >> appreciate it. ashley: thank you. tracy: good stuff. will the coast of hurricane sandy keep adding up? man, they are huge now. now the question is who will pay for the storm? federal government or local taxpayers like well, us? liz macdonald here is more with emac's bottom line. do they know the final number? good to be with you guys. they don't know the final number. governor andrew cuomo is weighing in on this debate. cost for new york state, $41 million. 19 billion in new york city alone. what is being incurred to date by the state of new jersey. when all said and done could surpass the cost of hurricane katrina which stood
FOX News
Nov 27, 2012 1:00pm PST
. if we grew at 4 percent we would not have the so-called fiscal cliff. >>neil: what do you think of grover norquist and the easy fix? >>guest: i think he has done a great service to the country in getting so men people to take a pledge because this is some pressure on the people, now to go back on their word and there should be pressure because it is the wong thing to do so grover norquist and americans for tax reform, i worked with him for 15 years getting the state letters to sign the pledge, and it holds people's feet to the fire and to sign this, if they go back on their word they will suffer the repercussions next election. >>neil: thank you, senator. if republicans telling grover is over are making senator harry reid happy, should that make you worry? who better to ask than grover? tonight, on fox business network. you don't get it? demand it. you don't want to miss this. >> steer clear of the cliff, gouge them at the pump? get ready for real road rage. >>neil: i am headed off to the city of angels. the ladies can't wait. >> so crazy it is here. >> my heart is pounding. >>
FOX
Nov 27, 2012 4:00am PST
the economy is stuck in first gear. > in your survey, did you question them specifically about the fiscal cliff? are they concerned? > > we didn't question them specifically about the fiscal cliff, but based on the responses, it is really clear to me that that uncertainty is starting to creep in and undermine how consumers feel about financial security. we saw a decline relative to the prior month: in october everything had gone up; in november, we gave a lot of that back. every category of financial security showed a decline relative to the month prior. and that is after the election. so that uncertainty was out of the way. consumers are beginning to focus on the fiscal cliff. > why do you think they are feeling that way? > > first of all, once the election was over, a lot of the focus, both in the financial markets and elsewhere, turned toward the fiscal cliff. the reality is this: if we have a recession in 2013, it is going to hit everybody. unemployment will go up, earnings and net worth will all go down. as people start to realize that, they are going to become more concerned and the
CNBC
Nov 27, 2012 4:00pm EST
on the fiscal cliff, chances are we get a slower economy next year because of the higher taxes and cutting spending? >> i want to touch on something that liz just said. i have tried to get her to play along with this game. >> i gave up long ago. >> she always resists me when i try to pin her down on the number. i guess she's smart. as you mentioned, a fellow from morgan stanley coming out saying, look, i blew it. it's a pain for me. i don't want to do this. i think what they're banking on is this whole fiscal cliff thing, the europe thing. all of the head winds for the market are never going to see the worst case scenario. i think just kind of the picture is this muddle through going forward. i called up today and tried to -- i talked to some of the most bearish people i know. they're all just kind of saying, yeah, we're going to muddle through. the fiscal cliff is going it get resolved one way or the other. europe is going to get resolve one way or the other. i think this is one of -- >> steve, he brings up a good point. consumers are not worried about the fiscal cliff. intraday trading t
CNBC
Nov 27, 2012 1:00pm EST
to make a deal with president obama to avoid the fiscal cliff and impact on families but also seen washington's disfunction and has his doubts. >> somewhat just like the president, time to go ahead and do your job. >> reporter: speaker boehner is secure enough in his own district here north of cincinnati i-75 that his constituents will give him a freehand to negotiate. his bigger challenge is pulling together republicans from districts across the country behind any deal he ultimately strikes with president obama. the next four weeks that is the challenge john boehner, eric canter, and candidates on the house and senate are going to find. how do you put together a deal that not only the leaders agree upon but members of the caucuses can give majority to us in both houses? >> indeed, john, thank you very much. >>> meantime, some important economic data came out today and if you were looking at it expecting to see signs of worry about that looming fiscal cliff, you might be surprised. steve liesman has been analyzing it. it doesn't seem to show an economy that is all that worried abou
KRON
Nov 27, 2012 6:00am PST
will grow 2%. >> again we will learn more at the fiscal cliff develops or on rebels were we in the fiscal wall in the nine states. playing with numbers like this sing your contract for tens of a percent. greece has been in recession for seven years. we will talk about next year also have to do with china. you should see a little bit more stimulus there than not. it is also not the best case scenario. we do not want to% growth in 13 or 4% growth >> england had big cuts and went to a double dip recession if you do not cut it could hit for higher cost down the road. >> speaking of higher cost everyone is expecting taxes to go up next year bell companies are paying out their dividends now that they would pay next year corporation >> thank you robyn will top two winners lose at 915 would rot thank you. >> 6:52 a.m. is a time of us take a look at the rather temperatures are now in the '40's and 50's it is cold outside but it is not in the 30's. >> off we are nowhere near freezing. as we head into the afternoon expect 60s and clouds. fremont is at 63. 62 in campbell. to the east bay danville 65.
CNBC
Nov 27, 2012 6:00pm EST
uncertaintily over the fiscal cliff, you need to own companies that exist regardless of what happens on the economy. take pbh. host of other brands you know. back on october 31st, we learned that pbh was acquiring a brand th for $2.9 billion. you have the house of chatral together. deals have always been perfect. pbh reported after the bell today and the results were very strong. the company reported strong earnings let's check in with the fabulous chairman and ceo find out more about the quarter. good to see you. all right this was a very interesting thing this quarter. you had already told people that you thought you could beat the number. you had four cents more than anybody thought. was it the strength of the consumer here. is it how much better europe is for you? >> what is the make up of that last bit? >> margins were better. we were being on the gross margin line. better with taxes and overall, this quarter given the warnico acquisition we were forced more or less to come out and give guidance and we took it up. so it was a strong quarter for us. one of the things, and i know
FOX Business
Nov 27, 2012 12:00am EST
is terrible. europe is falling apart. the fiscal cliff as everyone terrified. the market is scary. how can people be out there spending more than last year? >> pent-up demand. have been coming every year, hearing about one negative thing after another since the 2008 banking crisis. it has been terrible. people are ready to move on. melissa: they don't just get used to spending less? >> people who are rational. but the average guy out there is broke and is probably always going to be broke. there is nothing hard wired and us to be prudent. we go out and spend everything that we have. and then some. and d you do have -- even though unemployment is high. we have more people in the work force to more people working in a year ago. that helps move us down the line a low bid. melissa: okay. thank you for coming on. great information. so there are plenty of ways to get fired. what about not getting a flu shot? one employer is terminating scores of workers. is it even legal? the details are next. i have been fired, not for a flu shot. plus, green energy requirements help push up electricity costs a
CNN
Nov 27, 2012 2:00am PST
a spending deal done in time to steer clear of the fiscal cliff, derer thompson says it won't necessarily cure the economy. the senior editor of "the atlantic" joins us live in the next half hour. he has an interesting perspective. >>> ambassador susan rice heads to capitol hill this morning to mend fences with three republican senators. john mccain, lindsey graham and kelly a at with her information comments made on several networks that played down the role of terrorists in the attack on the u.s. consulate in benghazi, libya, that killed four americans including ambassador chris stevens. rice maintains she made it clear the intelligence information she had at the time was preliminary. senators have threatened to block her nomination if president obama chooses her to be his next secretary of state. >>> and the obama administration responds to the benghazi attack does not get high marks from americans. the results of a new poll out this morning shows a majority of those questioned, 54%, say they are dissatisfied with the administration's handling of the attack. >>> and the body of yasser
KRON
Nov 26, 2012 8:00pm PST
understand the fiscal cliff is a scary and a series of living tax hikes. it could damage the economy. president obama has been pressuring congressional leaders to reach a compromise that increases taxes on wealthy americans. a handful of republicans are suggesting they might break their pledge to never vote for higher indicate taxes. >> and for the good of the country only if democrats would do a title that. >> the pledge that we signed 18-20 years ago but the world has changed. >> is music to the ears of the white house but disturbing to this man. the anti-tax crusader that cut republicans to tax no tax- agreement. it >> if you want to go to your voters and say i promised to this and i am breaking the promise you have that conversation. >> if he seems confident so for these numbers are not on his side. 258 members of congress that have signed the pledge with only one half dozen have publicly expressed doubts about it. the test of weather they are were ready to break the tax increase will, in the next six weeks. catherine heenan, kron 4. >> the state of york is requesting nearly $42
MSNBC
Nov 27, 2012 6:00am PST
have just 34 days before the economy goes off the so-called fiscal cliff. so can they come up with a deal sooner rather than later? joining me now msnbc contributor and political he heditor perry n jr., former republican governor of maryland, bob erlich, and what we just learned here at the table during the break, governor erlich, you are a member of congress and you were bragging about the fact -- >> i'm not a big fan. >> you do not sign pledges. you said you never did and you never signed grover norquist's. >> what i said was early on in your political career i may have -- i don't think i did but they get you. a young state legislator, there's this questionnaire and the questions are always framed rather easily yes. they're leading questions. and then once they got you, you're done. because they got you. and so the advice i would give -- >> to the young legislators -- >> even if it's a supportive group. i don't think taxes -- i don't want to vote to raise taxes. even if it's tort reform, whatever the issue happens to be, be very careful. do not sign anything. do not give awa
CSPAN
Nov 27, 2012 5:00pm EST
december to solve this but problem. >> isolator mentioned, the issue issue with regard to the fiscal cliff is straightforward. the president and his press conference after the election stated essence: priority jobs in the economy. republicans couldn't agree more about that, which is why the proposal the president spoke forward to solve the cliff raises taxes on how must a million small businesses who employ 25% of the workforce. ernst & young has been a study that if the president's proposal went into effect to raise taxes on small businesses that they are, they will cost us us over 700,000 jobs, reduced take-home pay by 2% and reduce economic growth by 1.3%. so you've got a lot of analysis out there, lots of economy seem that the president is reposting to do would hurt jobs and the economy, which is again ironic in that the presidentonly solution right now to solve our fiscal cliff issue is to raise taxes. in 2010 we had the same debate. the president said he shouldn't raise taxes in the middle of a weak economy. at that time, economic growth was 2.4%. this year, 2012, the same number is
FOX Business
Nov 27, 2012 11:00am EST
is pulled back. dagen: thank you. if congress is unable to prevent the fiscal cliff, our lawmakers could send the entire world economy into a recession. steve moore is here, senior economics writer at the "wall street journal." he joins us now from washington, d.c. will they prevent it, steve? >> the good news is, no one should ever listen to what they say. but, you know, these go sheesh and keep rolling on. my sources on capitol hill say that there is still a lot of gridlock there. the main thing, in my opinion, can they reach a deal on these taxes that does not require all of the requirements of business to go up? dagen: do think that happened, because again, there are so many taxes that we need to worry about, the lawmakers never fixed it for 2012. if they do not fix that, it will hit 33 million americans. the payroll tax cut. will that go away, because, again, it was temporary ones, temporary twice and it will still be a higher tax. >> im so glad you brought up the amt. nobody has really been focusing on this. that would be bigger than even extending the bush tax cuts. you are talkin
Current
Nov 27, 2012 3:00am PST
serious that is if we hit the fiscal cliff and go over it and it stays in place. the deficit falls by $600 billion, the largest one-year reduction in history but will throw the economy back into a recession. unemployment will go from 7.9% currently to over 9%. i don't think that's going to happen. i do think we'll go over the cliff, not have a deal before it happens. i think it will be fixed shortly after this -- after they storm the castle with pitch forks and torches but this is potentially the worst fiscal policy since the end of the great depression when we went into an austerity program too early and threw the economy back into a recession back in the '30s. so this is serious stuff. but notice everything we just talked about the meetings each one is having. notice who's not having a meeting. the president is not having a meeting with john boehner. the congressional leaders aren't coming to the white house. there will be no direct negotiations this week. there's not -- if there is going to be a deal here, it won'
CSPAN
Nov 27, 2012 5:00pm EST
. >> as the leader mentioned, the issues with regard to the fiscal cliff is pretty straightforward and the president in his press conference shortly after the election stated its his goal and priority, jobs and the economy. ought to be about jobs and the economy. republicans couldn't agree with him more which is why the proposal the president has put forward to solve the fiscal cliff raises taxes on a million small businesses who employ 25% of the work force and an accounting firm has done a study has said if the president's proposal went into effect which is to raise taxes on the small businesses out there that it would cost us over 700,000 jobs and reduce take-home pay by 2% and reduce economic growth by 1.3%. what the president is proposing to do would hurt jobs and the economy, which is again, i ironic in that the president's only solution to solve our fiscal cliff issue is to raise taxes. in 2010, we had the same debate. the president said you shouldn't raise taxes in the middle of a weak economy. at the time economic growth was 2.4 through the first three-quarters. this year, 2012, that same n
FOX News
Nov 27, 2012 8:00am PST
the fiscal cliff? with us now, associate editor and columnist for "the hill", a.b. stoddard. so what are the folks that you cover there on capitol hill, what are they saying about the prospects here? >> well, in the last 10 days it starts to sound more and more like democrats don't really have a problem with going over the slope or the cliff. they won't really admit that but it seems that they're not working so hard to stop it. you see the white house trying to tell americans that there is going to be such a steep tax increase on the middle class that it could affect consumer spending at the holidays. that is 20% of total retail consumer demand for the year. that would have a bad effect on the economy. republicans have already agreed to increase taxes on the wealthy. when you heard senator gram and others say they're willing to cap deductions and close loopholes. they're willing to find new revenues we know taxes on the wealthy are going up. what we're talking about is an increase in rates. republicans tell me if the president moves off the 250,000 number to somewhere between 500,000
PBS
Nov 26, 2012 7:00pm PST
to the same worries about the fiscal cliff. and a new report from the white house added to the worries, showing that unless there's a deal on solving the crisis, the u.s. economy would suffer big time. the obama administration's economists estimate consumers would spend about $200 billion less next year than they would have otherwise. congress and the administration have only a few more weeks to nail down a deal. but that deal will have to address some tough issues, including entitlement reform. darren gersh explains. >> reporter: the big money in entitlements is in health care, and that means any grand bargain to avoid the fiscal cliff will slice away at one of the nation's most popular programs. >> medicare is clearly in the gunsights. >> reporter: it's possible congress and the president could agree to save $300 to $400 billion from medicare by cutting fees for doctors and hospitals. but analysts worry slashing payments won't make the health care system more efficient. >> this is not really a way to structurally change medicare and if you don't change the underlying incentives, you
CNN
Nov 27, 2012 4:00am PST
this morning, a warning on the fiscal cliff and a downgrade of expectations for u.s. economic growth. the organization for economic cooperation and development cut its forecast for the u.s. economy for this year and next year, and on fiscal cliff negotiations, the oecd said, quote, diseaecisive policy actis needed to ensure that stalemates over fiscal policy in the united states and continuing euro area instability do not plunge the world back into recession. plunge back into recession the whole world, a very bad, bad idea. >> a lot of menacing terms there. fiscal cliff a menacing term here. now we know we are just under 35 days away before we fall off that cliff. which could lead to deep spending cuts. want to bring in republican senator pat toomey from pennsylvania. he was a member of the deficit reduction super committee last year that failed to agree on a plan. but he's been talking about this issue for a long, long time. good morning, senator. >> good morning. >> we just learned that president obama will be traveling to your backyard on friday to talk about the fiscal cliff and
MSNBC
Nov 27, 2012 9:00am PST
that to your mind? >> so, both a good side and bad side. if we let -- go over the fiscal cliff, it's going to solve our fiscal problems. the deficit will essentially go away. the bad side we're in a deep recession and the deficit will go away. this is an economy that can't afford to have 4% of our spending disappear just next year. we'll see a recession next year almost for sure and for certain. so that's the sense in which i think this is something to worry about. we want -- the recovery is faltering right now and we really don't need congress clubbing it over the head again, pushing us back down yet again. >> yet again. justin, thank you, sir, from the university of michigan. great to have you. >> thanks, alex. >> catch one of the key players in the fiscal cliff negotiations right here on "now" when senator patty murray joins us tomorrow at noon eastern. >>> and coming up after their romney nominee received just over a quarter of the latino vote republicans say they're ready to put up when it comes to comprehensive immigration reform. what are they doing about it? so far putting up a lot
CNBC
Nov 27, 2012 6:00am EST
of the united states economy to not only avoid the fiscal cliff but get to the moment where the debt stops rising and the debt to gdp starts coming down into an area where we all can breathe more comfortably. >> secretary, we're going to leave it there. thank you for joining us this morning. >> thank you. >> coming up, we're going to kick off a rise above road trip. john harwood begins in ohio visiting the home state of house speaker john boehner asking constituents if their representative is representing them or not. the currents to rise above all day and i guess they mean their representative in congress and the representative in the white house asking both all day on "squawk box." tdd# 1-800-345-2550 you should've seen me today. tdd# 1-800-345-2550 when the spx crossed above its 50-day moving average, tdd# 1-800-345-2550 i saw the trend. tdd# 1-800-345-2550 it looked really strong. tdd# 1-800-345-2550 and i jumped right on it. tdd# 1-800-345-2550 tdd# 1-800-345-2550 since i've switched to charles schwab... tdd# 1-800-345-2550 ...i've been finding opportunities like this tdd# 1-800-345-2
CNBC
Nov 27, 2012 3:00pm EST
out today, still no rally for stocks. is it really still all about the fiscal cliff for investors right now? let's talk about that in our clo"closing bell" exchange. steve liesman will have breaking news momentarily. steve, do you have that? >> yes, i do. what we have is a report from the new york fed on consumer finance. what the news shows is that overall, consumer credit outside of real estate is up just a bit. most of that, by the way, is student loan debt, being up about $42 billion inside that $2.7 trillion number. overall, mortgage debt is down and overall debt is down. the basic gist of the details, bill, is that consumer credit continues to decline overall. delinquencies are down and bankruptcies are down. balance sheet repair continues. a little bit more willingness of the consumer to take on some debt and a lot of it -- >> that's very interesting, steve. let me ask you something, david. >> i want to make one more point, which is that when you talk about how much the dow is down today, it should be down more because the rally we didn't have from the better economic news
FOX News
Nov 27, 2012 6:00am PST
that would avoid that potentially devastating fiscal cliff that is looming over the u.s. economy right now. the president is meeting with small business owners at the white house today. he had a series of meetings with different business leaders over the last week. despite the warnings that the talks are stalling on capitol hill stuart varney joins me now, host of "varney & company" on fox business network. >> good morning, martha. bill:. martha: what are you hearing how this is going? >> it is impasse basically. the republicans said yesterday they accommodated the democrats they will agree to get more money from wealthy people from higher taxes but mitch mcconnell, senate republican leader, he says there has been no similar compromise from the democrats or the president. he says they are still holding out for higher tax rates on the rich and he says the radical left is prescenting the democrats and president and agreeing to serious reform from medicare. martha, i have to tell you. i got new numbers from medicare, from trustees, actually. medicare has to pay out in the future $42 trillion.
CNBC
Nov 27, 2012 5:00pm EST
a little perspective. >> we buy stocks almost every day. but i'm confident about the american economy over the decades to come. we will have ups and downs and i can't predict them but america is a winner. >> fiscal cliff and what it means for your money on "fast money" right now. >>> live from the nasdaq market site in new york city's times square i'm melissa lee. special dividends are coming fast and furious. why apple might offer a fast payback. will the market be naughty or nice to investors. chart breaks down the technicals. forget stores and waiting in line. we are breaking down the best ways to play it. grid lock in washington dragging on stocks again today. let's go with the latest on fiscal cliff talks on capitol hill. >> let me give you a sense of what the impact was from the fiscal cliff talks here in washington. just after 2:00 when the senate majority leader came to talk to reporters about progress in the talks take a look at this s&p chart and you see that the market drops right as harry reid speaks. talking about that lack of progress. let me tell you exactly what he said and
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